Defense of Credit Card Interest Rates Doesn’t Hold Water

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"Defense of Credit Card Interest Rates Doesn’t Hold Water"

With congress finally taking action against abusive interest rate policies at credit card companies, some folks have sprouted up out of the woodwork to explain that these policies are the result of delicate free market fine-tuning and all will be ruined by regulation. A great rortybomb post takes a close look and finds this argument badly wanting.

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